Los Angeles Business Journal

Shares Rise as Oaktree Beats Expectations

By James Rufus Koren Tuesday, May 7, 2013

Oaktree Capital Group LLC shares rose after the company beat Wall Street expectations again with first-quarter results reported Tuesday.

The downtown money management firm reported net income of $57.6 million ($1.91 per class-A share) for the period ended March 31, up from $18.6 million (82 cents a share) in the same quarter last year.

Analysts surveyed by Bloomberg LP had expected income of $1.44 a share. Oaktree went public in April 2011 and has beaten analysts’ expectations every quarter since.

Oaktree announced earnings before markets opened Tuesday. Shares closed at $57.11, up 5 percent.